Here are the highlights for the third quarter. Quarter three revenues were $430 million representing 34% growth year-over-year with organic revenues increasing 13%. Global Client were again the growth driver with organic Global Client BPM revenues increasing 20% from the prior year third quarter and 4% sequentially. Also the Global Client IT business grew organically by 23% year-over-year and 10% sequentially.
Adjusted operating income increased by 43% from quarter three of last year to $70.9 million. AOI margin improved by 110 basis points driven by improvements in efficiency, operating leverage from G&A and contribution from FX.
Net income increased by 20%, diluted earnings per share increased by 19% and adjusted diluted earnings per share increased by 26%. After the quarter closed MF Global a Headstrong client filed for bankruptcy protection. Our results for the quarter and the outlook for the year reflect this development. Mohit will have more details in his comments.